12th May 2025 (12 Topics)
1
May
2
May
3
May
5
May
6
May
7
May
8
May
9
May
10
May
12
May
India-EU FTA Talks
Context
India and the European Union (EU) commenced the 11th round of negotiations for a proposed Free Trade Agreement (FTA). The negotiations come after a significant pause and are part of a broader strategy to adapt to the evolving global trade landscape.
Background
- In 2022, India and the 27-nation EU bloc resumed negotiations after a gap of over eight years. It was stalled in 2013 due to differences over the level of opening up of the markets.
- The India-EU trade pact negotiations cover 23 policy areas or chapters, including Trade in Goods, Trade in Services, Investment, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Trade Remedies, Rules of Origin, Customs and Trade Facilitation, Competition, Trade Defence, Government Procurement, Dispute Settlement, Intellectual Property Rights, Geographical Indications, and Sustainable Development.
- In a related development, India and the United Kingdom recently announced the conclusion of their own free trade agreement negotiations.
Current Trade Dynamics
- The European Union is India’s largest trading partner, meanwhile, India is the EU’s ninth largest trading partner.
- As of the fiscal year 2023-24, India’s bilateral trade in goods with the EU reached approximately USD 137.41 billion, making the EU India’s largest trading partner.
- Indian exports to the EU totaled USD 75.92 billion, while imports stood at USD 61.48 billion.
- The EU accounts for about 17% of India’s total exports, while India represents around 9% of total EU exports.
What is a Free Trade Agreement?
|
More Articles
Courses
Study
Notes
Home
Resources
More
